Analyst Suggests Solana Could Face Long-Term Weakness Despite Recent 20% Surge and Network Upgrade
Main Idea
Solana's recent 20% price rally contrasts with technical warnings of long-term weakness against other cryptocurrencies, amid a network upgrade and ongoing reliability concerns.
Key Points
1. Analyst Gert van Lagen highlights bearish divergences in SOL/BTC, SOL/ETH, SOL/ADA, and SOL/XRP pairs, suggesting potential long-term weakness.
2. Influencer Zyn views Solana's price action as a breakout, predicting a potential rally to $260 if SOL holds above $200.
3. Solana's Epoch 821 upgrade increases block size by 20%, aiming to enhance throughput, but reliability issues and past outages remain concerns.
4. The network's history of outages and mixed community feedback raise questions about the upgrade's long-term impact on stability.
5. Investors are advised to monitor Solana's price action and network upgrades, balancing innovation with reliability risks.
Description
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